Wipro acquire US-based Convergence Acceleration; stock dips ~1.5%

12 Apr 2022 , 12:01 PM

Wipro Limited, a leading IT player, informed that it has acquired Convergence Acceleration Solutions, LLC (CAS Group). 

Convergence Acceleration is a U.S.-based consulting and program management company that specializes in driving large-scale business and technology transformation for Fortune 100 communications service providers.

CAS Group’s profound client relationships and robust domain expertise, along with Wipro’s execution capabilities will deliver an end-to-end professional services solution and prompt impact on clients. The joint entity will cater to clients’ needs with services ranging from strategy development and planning to execution and implementation.

“CAS Group brings to Wipro a diversified and unique complementary set of capabilities,” commented Philippe Dintrans, Senior Vice President & Global Head, Domain & Consulting, Wipro Limited.

He further added, “Their long-standing strategic partnerships with some of the largest communications service providers, combined with extensive expertise in large-scale transformation projects, will help us in achieving a significant competitive advantage in this rapidly growing sector. As we continue to execute on our ambitious growth prospects, we are delighted to welcome CAS Group as the latest addition to the Wipro family and look forward to bringing our full strength to clients.”

CAS Group was founded in 2007 and is a partner for strategic transformation programs to clients across 17 centers of service including business and fiber-optic services, mobile/wireless, as well as cable, data, and telecom retail solutions.

Wipro is currently trading at Rs563 down by Rs8.2 or 1.44% from its previous closing of Rs571.20 on the BSE. The scrip opened at Rs571.60 and has touched intraday high and low of Rs571.60 and Rs560.35 respectively.